Three new incentives focus on accelerating private commercial and residential development in Downtown Largo, and a fourth incentive will assist business and property owners with signage upgrades.
Largo, FL – On May 6th the Largo City Commission, in their role as the Community Redevelopment Agency (CRA) Board, adopted four new redevelopment incentives aimed at helping to stimulate and accelerate the revitalization of the City’s traditional urban core.
The incentives are available within the West Bay Drive Community Redevelopment District, which is a special planning area that spans West Bay Drive from east of the Pinellas Trail area to Largo Central Park. Three of the incentives focus on accelerating jobs, residential development, and commercial development in Downtown Largo. A fourth incentive was designed to assist business and property owners with upgrading pole signs to signs that conform with the City’s sign code. The incentives were adopted by the CRA Board with the goal to establish programs that will encourage occupancy in the existing office buildings, the formation of new businesses, new mixed-use development, and new residents to maintain and support the existing neighborhoods and downtown businesses.
The incentives are part of the redevelopment strategy outlined in the West Bay Drive Community District Plan, which was updated in 2009 based on feedback from the residents and businesses within the community. The Plan serves as a policy guide for city planners, property owners and developers as properties and City streets and infrastructure is improved.
Mayor Pat Gerard said, “Over the past decade we have seen Downtown Largo begin to transform through private investment and these new incentives will continue that momentum. Projects such as the new St. Michael’s Laser Eye Center building, the new Diagnostic Clinic building, the remodeled West Bay Professional Plaza, the new McDonald’s and others are indicators that Downtown Largo is ripe for revitalization.”
For more information on the Early Sign Replacement Grant, the Housing Infill Program, the Real Estate Development Grant and the Job Creation Bonus Program, visit www.largo.com/redevelopment or contact Largo’s Economic Development staff at (727)586-7360 or via email at email@example.com